Australia retail sales missed to the downside in November with the ABS reporting an increase of 0.1%. The figure, the sixth-consecutive month that an increase has been recorded, was below the 0.4% gain of October and expectations for a further increase of 0.2%.
Despite the monthly miss total turnover rose to $23.765b for the month, an all-time record high and some 5.01% higher than a year earlier.
In what is somewhat of a surprise the largest monthly increases came from the Northern Territory, ACT and Tasmania at 1.6%, 1.3% and 1.1% respectively. NSW and Victoria, the two States that have recorded the strongest sales growth of late on the back of higher house prices, were mixed with the former declining 0.2% with the latter rising 0.4%.
Despite the monthly miss NSW remains head-and-shoulders above the rest when it comes to annualised growth.
Looking at the monthly performance in terms of category Australia’s love affair with eating out was evident yet again with an increase of 0.8% reported. Elsewhere food and household goods turnover logged gains of 0.6% apiece while turnover in clothing, footwear and accessories, along with ‘other’ retailing, was down 0.7% and 2.1% respectively.
Reflective of recent activity in the housing market household goods retailing recorded the largest annual increase with food-related sales also performing well be it at home or dining out. As was the case with the monthly figures those categories that recorded the weakest performances have also fallen compared to levels of a year ago.